Earlier this month, Spanish oil company Repsol announced the discovery of approximately 1.2 billion barrels of oil in Alaska’s North Slope. The discovery was made jointly with partner Armstrong Energy, a Denver-based company, in an area previously viewed as an aging oil basin. According to Repsol, production for the site will commence in 2021 with the potential to extract almost 120,000 barrels of oil per day. To read Repsol’s press release, click here.